Buying stocks in NISA directly with USD

[Chizakura]

I've just requested the paperwork to open a NISA account at SBI and I'm also a Shinsei bank customer (with status currently). I do have 80k in USD on my WISE account and would like to buy funds in NISA this year still, but I would also prefer to not convert them to YEN with WISE but rather do it via Shinsei once I have a better status or, if possible, buy the funds directly with USD without any conversion.

Is that possible and can I do it until the year has passed? I'm afraid of not being able to use the allowance for this year...

[Tkydon]

I can see no reason why you cannot transfer USD from your Wise directly to your SBI account.

Your NISA transactions will be limited by the Yen Limits of Y1.2M per year and Y2.4M per year for Tsumitate and Growth portions respectively.

[adamu]

Yes it's possible, but you'll only be able to buy US ETFs, not Japanese mutual funds, so you'll only be able to use the Growth portion. If you want to use the Tsumitate portion, you'll have to buy in yen.

Note that US ETFs are not ideal for NISA for the reasons explained here:
https://retirewiki.jp/wiki/Japanese_glo ... th_US_ETFs

[Chizakura]

Got it! Thank you for the info. Since I prefer Japanese accumulating ones, it won't be possible then. Too bad...

[adamu]

Incidentally you can convert USD to JPY for the market rate (no spread) within SBI Securities at the moment (usually they charge a 0.25 yen/$ fee, but it's been waived since Dec 2023).

https://s.sbisec.co.jp/smweb/pr/gaccnt. ... 4_exchange

[Chizakura]

Incidentally you can convert USD to JPY for the market rate (no spread) within SBI Securities at the moment (usually they charge a 0.25 yen/$ fee, but it's been waived since Dec 2023).

https://s.sbisec.co.jp/smweb/pr/gaccnt. ... 4_exchange

Oh, very interesting. I wonder - do they maybe have a worse spread now? And is it just a temporary thing?? I have a hard time to believe that they just do this out of being nice, especially considering shinsei's recent course of actions.